172)

Author: Isaac Newton

Source: MINT 19/2/167, National Archives, Kew, Richmond, Surrey, UK

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  On differences between the customary par and the current rate of exchange between English and French money at Dunkirk, and what proportion of the loss should be born by the Crown [MINT 19/2/172]

<167r>

The three-Guilder piece of Holland new out of the mint is \intrinsically/ worth in new English silver money 5^s. 2^d $\frac{3}{4}$ at a medium. And thence twenty shillings new English silver money is worth in new Dutch silver money 11 Guilders 9 styvers 5 $\frac{3}{4}$ deniers at a medium.

Twenty shillings of English silver money lately passed in Holland for 10 Guilders & nine or ten Styvers, or at a medium 10^G. 9 $\frac{1}{2}$ ^st.

The loss by the exchange was {illeg}|o|ne Guilder - .

Whereof Her Ma^ty allowed to the forces in Flanders 5 $\frac{1}{2}$ styvers.

And the force be|a|re the rest of the loss viz^t 14 $\frac{1}{2}$ styves, w^ch is 6 $\frac{1}{3}$ per cent.

The French Crown new species passes at Dunkirque & I think in all France, for five Livers, & new out of the Mint is \intrinsically/ worth in new English Silver money 5^s 1^d at a medium. And thence twenty Shillings new English silver money is worth in new French Silver money of the new species 19^livers 13 sous 5 $\frac{1}{3}$ deniers at a medium.

Twenty shillings English silver money passes at Dunkirque for seventeen Livers, recconing a French crown new species at five Livers.

The loss by the exchange is 2 Livers 12 Sous 5 $\frac{1}{3}$ deniers

Which loss being divided between th|H|er Ma^ty & the forces at Dunkirque in the same proportion as in the payment of the forces in Flanders, Her Maj^ts allowance to the forces at Dunkirque in part of that loss will come to 14 $\frac{7}{10}$ sous, or (in the next round number) to 15 sous: w^ch added to the 17 Livers will make her Maj^ties allowance 17 Livers 15 sous for to the forces at Dunkir for one pound Sterling.|,| |recconing a crown piece new-species at five livres as above.|

ANd the loss to be born by the forces will be 1^Liver 18^sous 5 $\frac{1}{3}$ ^den w^ch is 9 $\frac{3}{4}$ per cent.

This recconing is founded upon the old proportion; but her Maj^ty may vary from that proportion at pleasure.

The probability that the course of exchange may alter in time of peace is also left to consideration.